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WorksheetsEntrepreneur quiz basic
Total questions: 22
Worksheet time: 11mins
Name
Class
Date
1.
The costs of operating a business are often called _____ expenses.
a)
fixed
b)
overhead
c)
variable
d)
markdown
2.
___________ is an organized way to gather and understand information needed to make informed business decisions based on the potential customers and competitors that exist in the market.
a)
Competition report
b)
A customer report
c)
Market survey
d)
Audience analysis
3.
What does a SWOT analysis evaluate?
a)
Strengths, Weaknesses, Opposition, Threats
b)
Strengths, Weaknesses, Opportunities, Threats
c)
Strengths, Weaknesses, Opportunities, Targets
d)
Symptoms, Weaknesses, Opportunities, Threats
4.
What is the definition of an entrepreneur?
a)
An entrepreneur is someone who manages a business.
b)
An entrepreneur is someone who owns a business and makes profit from that business
c)
An entrepreneur is someone who creates a business and potentially makes money and runs the business.
d)
None of these
5.
The individuals or companies that are interested in a particular product or service an are willing and able to pay for it
a)
Target market
b)
Sole proprietor
c)
Equity
d)
Partnership
6.
Which of the following is a start-up expense for Maria's food truck?
a)
a new engine for the truck
b)
Cell phone bill
c)
Gas
d)
All of the above
7.
A business owned by a group of people and authorized by the state in which it is located to act as though it were a single person
a)
Sole Proprietor
b)
Partnership
c)
Franchise
d)
Corporation
8.
Two or more owners share the profits and losses of the business
a)
Partnership
b)
Corporation
c)
Franchise
d)
Sole Proprietor
9.
Which type of business buys large amounts of good and sells them to retailers?
a)
manufacturing
b)
wholesale
c)
retail
10.
Which type of business produces goods?
a)
manufacturing
b)
retail
c)
wholesale
d)
target market
11.
An entrepreneur can change a customer/client's life by provided a ___ or ___ that is needed.
a)
good/service
b)
good/payment
c)
recommendation/payment
12.
Which of the following would be considered an example of retail business
a)
Sam's Club
b)
Nike
c)
The Buckle
d)
Sysco Foods
13.
Owners of a corporation all have this in common
a)
They own share of stock in the company
b)
They are vice presidents in the company
c)
They are very wealthy if they own a portion of the company
d)
They have equal voice in how the company is run
14.
Zoning laws help to regulate
a)
How large your business can be
b)
The location of your business
c)
The signs you can use for your business
d)
Whether your business is a proprietorship, partnership or corporation
15.
Nike's "Just Do It" phrase would be considered a ____ for the company
a)
jingle
b)
advertisement
c)
logo
d)
slogan
16.
After the market survey is done, it is important to find out the expenses involved in the materials of your product. This information is the
a)
overhead cost
b)
product evaluation
c)
market survey
d)
cost analysis
17.
To figure net profit, one needs to use the formula
a)
product cost plus selling price
b)
selling price minus product cost
c)
wholesale price plus overhead
d)
break even point minus selling price
18.
Pepsi Distributing, Sysco Foods and Costco would be examples of
a)
service businesses
b)
retail businesses
c)
manufacturers
d)
wholesale businesses
19.
Service businesses would include:
a)
a tire shop and a clothing store
b)
a dentist and an auto mechanic
c)
a jewelry store and a pet food manufacturing company
d)
JC Penney and Sam's Club
20.
this picture would be considered a
a)
jingle
b)
advertisement
c)
symbol
d)
logo
21.
Characteristics a successful entrepreneur need to have include
a)
a. hard headed and hard working
b)
b. strong willed and good at communicating
c)
c. creative and closed minded
d)
d. people skills and a quick temper
22.
Break even point means that
a)
start up costs have now been covered by sales income
b)
the business is making at least 20% profit per month
c)
employees start earning higher wages
d)
the business needs to borrow more money
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